Record high number of job vacancies in Luxembourg
The number of job vacancies in Luxembourg reached a record high last month, the country's employment agency said on Monday, in a further sign that the economy is recovering from the ravages of Covid-19.
There were almost 10,000 job openings on file with Agence pour le développement de l'emploi (ADEM) at the end of August, a new record and an increase of nearly 50% from a year ago, the agency said.
The number of jobseekers was also down 13% last month compared to August 2020, a few months after the start of the pandemic but when tight restrictions were still in place, throttling many businesses.
The unemployment rate remained largely unchanged at 5.5% in August, according to the figures. A total of 16,123 people were registered as looking for work on August 31, a drop of almost 700 from the previous month.
The overall unemployment rate is hovering close to its pre-pandemic levels, with the total standing at 5.4% in January and February 2020 before shooting up to more than 6% in March last year, when the first lockdown was imposed.
However, the number of cases of long-term unemployment is increasing, in an indication that some deep economic scars have been left by the pandemic, despite the bounce back. More than half of all jobseekers registered with ADEM have now been out of work for at least one year, also a record high.